Seller’s Guide

HOW TO SELL…3 STEPS

Step 1. Establish Market Value. A professional market analysis from an experienced Realtor shows how much your home is worth. After considering comparable neighborhood sales, square footage, improvements, location and condition, a sales price is estimated. Keep in mind that Zillow’s commonly used “Zestimate” is fast and convenient, but doesn’t factor in upgrades or condition and as a result, can be grossly inaccurate. Request a free market analysis from our professional team of experts!

Step 2. Get Pre-Approved. A lender helps determine what you can afford if also you plan to re-purchase. Sellers expect a pre-approval letter submitted with your offer to purchase. Contact your favorite lender or use our favorite loan officer at HomeBridge Financial Services.

Step 3.Hire an experienced and trustworthy agent to exclusively represent you during the home selling process. Your real estate agent should guide you through the unique challenges of marketing, selling and negotiating! Pay special attention to the agent’s marketing plan since this is the key to higher offers and more qualified buyers. Read below how Turnbloom agents deliver Guaranteed Results Marketing to their clients.

WHO PAYS THE AGENT?

In California, sellers typically pay commissions. By law, commissions are negotiable. Residential commissions typically range from 5-6% of the sales price which pays both the buyer and seller’s agents. Buyers usually don’t pay commissions.

HOW DO I PREPARE MY HOME FOR SALE?

Clean properties sell quicker and for a higher price. De-cluttering and staging helps buyers visualize living in the house. We will provide you with pre-sale and staging suggestions when we meet. If you want to read more into staging check out our Turnbloom Staging Guide

HOW DO BUYERS VIEW MY HOME?

Agents use a lockboxsecurity system attached to your front door, rail or water pipe to show your house. Each time an agent enters, their name is recorded for security. The lock box allows easy access for maximum showings.

Agents usually call you directlyto schedule an appointment. Use an answering machine or voice mail so agents can leave a message. When you know someone is showing, please tidy and leave the house so buyers are free to discuss objections openly with their agent without offending you. If you must stay, keep out of the way and don’t offer information unless asked. If you’re getting needled for price and other terms, respond with, “You’ll have to ask my agent about that.”

Be flexible for showing appointments. The more difficult you make it for agents, the less likely they are to show your property. Often buyers can’t view your home until after work in the evenings. With a patient and accommodating attitude, the right buyer will find your home sooner!

I’M WORRIED IF I SELL MY HOUSE FIRST, I WONT FIND A NEW ONE? WHAT CAN I DO?

Whoa! Good news is that it rarely happens. Just in case, using a smart agent can protect you.

Few sellers will consider an offer unless your existing house has an accepted offer. Sold and closed is even better. Remember, sellers in a “Seller’s Market” (too many buyers, not enough homes to buy) can afford to be fussy when it comes to offers.

Here’s what we do to give you more time to make the transition. When you accept an offer on your existing home, we ask for a longer close (45-60 days) plus a 30 or 45-day rent back after close. This gives you more time to locate a new home, get an offer accepted, and close. No costly double move!

Other options include equity lines and bridge loans. Having a knowledgeable agent who can present work-arounds for you is important!

WHAT ARE THE TAX LAWS ON CAPITAL GAINS?

A capital gain is equity you earn from home-ownership. As the home value increases and the loan amount decrease, your equity or what you would earn from selling goes up! Uncle Sam wants to tax you on that equity as “income” if you sell. Good news is there a rule that allows homeowners to earn this equity TAX FREE. Check out how to take advantage of this…

1-Sell your primary residence
For principal residence sales, gains up to $500,000 for married couples ($250,000 for singles or couples filing separately) are tax-free. This generous break can be “recycled” every two years. You must own the home and use it as your primary residence for at least two of the five years preceding the sale. Talk to your accountant for the rules on income properties acquired through 1031 Tax Deferred Exchanges.

2-Buy a fixer and sell for profit
Purchase, live in the house for two years while working on repairs, and then pay no federal taxes on profits up to $500,000 for married couples ($250,000 for singles). Like the profit? Buy another house and do it again!

This tax rule is so favorable, it’s almost too good to be true! Are you sitting on a hefty gain that could be excluded as income? Think seriously about selling now while the prices are still high. Replace your house with a less expensive one and invest the leftover cash.

3-Sell your income propertyUse a 1031 exchange to sell an income property and purchase a new investment property of equal or greater value. This allows you to defer paying taxes since you never receive any profit from the sale/transfer. This strategy should be discussed with your accountant and experienced 1031 exchange agent.

Turnbloom Guaranteed Marketing/Selling Strategy. Here’s a peek…

Guaranteed means we are committed to putting 100% effort into selling your home fast and for top dollar!

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Turnbloom Real Estate Team

Meet the top real estate team in Martinez, Pleasant Hill and East Bay with over 1,000 sales. Our superior local market knowledge and unsurpassed marketing helps you achieve your real estate goals and dreams!About Us